Taiwan's CPI grew 0.59 pct in May

TAIPEI, June 6 -- Taiwan's Consumer Price Index (CPI) grew by 0.59 percent on a yearly basis in May, mainly on account of a rise in fish, meat, dairy products and service prices, the island's statistics agency said Tuesday.

Transportation and communication costs rose 0.53 percent in May, largely led by increased fares and fuel prices. The rise was partially offset by declines in mobile phone fees.

Food prices dropped by 0.04 percent year-on-year in May, mainly due to double-digit decline in vegetable prices, which, however, was partially offset by price hike of meat, dairy and aquatic products.

Compared with the previous month, CPI, a main gauge of inflation, rose slightly by 0.1 percent in May.

The core CPI, which excludes vegetables, fruit and energy, rose by 1.11 percent year-on-year, the agency said, while the Wholesale Price Index (WPI), a gauge of production costs, fell 1.12 percent from a year earlier.

For the first five months of the year, the CPI was up 0.60 percent year-on-year and the WPI increased by 1.36 percent.